Wall Street learned on Tuesday that PepsiCo is now the latest beverage company to be looking at the marijuana market but has no plans to jump in just yet.
The company’s Chief Financial Officer Hugh Johnston told CNCB that Pepsico will look “critically” at investing in cannabis. It was only last month that rival Coca Cola had said it is also closely watching the market.
“I think we’ll look at it critically, but I’m not prepared to share any plans that we may have in the space right now,” Chief Financial Officer Hugh Johnston said to Jim Cramer and Sara Eisen on CNBC’s Squawk on the Street.
Johnston said to Cowen analyst Vivien Azer on the company’s earnings conference call that the company is steering clear of pot for now however.
Disclaimer: We have no position in PepsiCo, Inc. (NASDAQ: PEP) and have not been compensated for this article.